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Dear Colleagues, Customers and Friends,
We have received a few inquiries regarding Hertz Global Holdings’ recent announcement about its financial outlook. We want to make clear that we are two separate and independent public companies.
Since the spin-off in 2016, Herc Holdings Inc., an equipment rental business operating through its Herc Rentals Inc. subsidiary, has been operationally and administratively independent of Hertz. Our companies are governed by different boards of directors and we each operate in different sectors and serve different customers.
Herc Holdings Inc. recently reported first quarter results ending March 31, 2020 and provided an update regarding the impact of the COVID-19 pandemic on operations. Our financial position and balance sheet are strong, and our debt is rated B1 by Moody’s and B+ by S&P. We have ample liquidity of $1.1 billion, and our net debt totaled $2.1 billion with a net leverage ratio of 2.7x.
We are well-financed, we have ample liquidity, and we have the fleet available. We are committed to serving the equipment needs of our customers and our communities safely, efficiently and effectively.
Should you have any questions about our services or equipment for rent, please contact your customer sales representative or call 800-654-6659.
President and Chief Executive Officer
Telematics is a web based application, enabling you to rapidly identify and locate each unit, expedite movement, optimize utilization and reduce security risks.
All these tools empower you to focus on your day to day job and be alerted if an action is required.
Telematics gives our customers and employees a single, cohesive platform that provides 24/7 unlimited access to real-time equipment data and information.
In our continued commitment to take a Mobile First approach to product development, this online solution leverages the latest technology to allow our customers to move beyond their desk, and manage a project while on the go.
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